Re: January 2016 -=- Check In

After my divorce finalized last year, I was left with years of debt in my name. This month, I moved in with my parents for a year to help have the extra funds to pay down some debt! Started out January 1st with $27,362 in credit card debt (12 cards), $87,135 in student loan debt (just consolidated and started on the PSLF), and $1923 owed on my car.

Just this month, I was able to pay off my two smallest credit card balances. It's a small victory, but I am excited about having less bills and getting this debt under control. My student loans will not decrease very much, but I'm starting the PSLF program and in ten years should not have any loans to worry about.

Good luck to everyone in 2016!

I say stay with your parents as long as you need to! Good luck on your journey!

Re: January 2016 -=- Check In

I've been lurking here for a while, finally decided to get my financial health back on track last month! Just landed a new promotion and a lot more money, so I feel I can finally work toward something here.

Goal 1: Monthly check in here!

Goal 2: Get rid of baddies by 06/16

Goal 3: MC and VISA unsecured approvals by 06/16

Goal 4: FICO increase to 700 by 12/16

Just had my fiancee add me to a few cards as AU, and my score increased 100pts in a month! Still waiting on TU score to update though. Do they usually take a while?

Re: January 2016 -=- Check In

raised my score from 525 in september 2015, to 655 current score, a lot of hard work and lots and lots of reading, put a boat load of money in the back by setting a budget and living within it, later this summer i hope to buy our 1st house, working and watching score daily not to make same mistakes i did before...

Re: January 2016 -=- Check In

For 2016 my credit goals are to lower my utilization on all cards. Im sitting at about 92% all cards combined. I have two satisfied tax liens that became satisfied on October 2015. All, I can do is let them age because New York City is a pain in the a** when it comes to removing tax liens. I also have 3 late payments on my student loans from Navient. It was my mistake and they refuse to remove them so again something else I have to let age. All I can really do is lower my utilization to bring up my scores...My goal is to get my scores high enough to get my dream cards which are the Venture Card and the Amex BCE card. Venture card to use for my trip to Greece in June 2017 and Amex of course for groceries. Now that 2015 is behind us I see lots of improvements...We just climb from the top from here on out 3 Snapz...Best of luck everyone

I have been reading lots of success stories with folks raising their score in a short amount of time. Please give me all your sound advice as Iam starting today. My goal is 825 or higher in 24 months or less.

Re: January 2016 -=- Check In

I did this challenge in 2011 and didn't really keep up with it, but I've always monitored my reports and scores. A few years ago I was below 500 and now my Equifax score is 730. I never thought I'd see that number.

I started paying off my $13K+ credit card debt using the snowball method - most of my cards (over 7) were/are retail cards - I'm down to a little under $10k now with a $21k student loan and I'm leasing a car which will be up in August.

I'm now down to two credit cards: Macy's and a bank Visa card. My fiancee allowed me to transfer my $3k Macy's balance to his credit card because he had a zero balance and they offered him 0% introductory APR on balance transfers for a year (with the method at which I'm paying off my Macy's card it will be at zero in 6 months). Not to mention his credit score is well above 770.

Once that is done my focus will be on the bank card with a $6K balance - with the snowball method it will be done in 9 months. Then I can take all of that money and pay off the student loan.

We plan on getting married some time next year and hope to buy a house in 2-3 years so I need my score to match or be higher than his when that time comes. The biggest challenge for me was NOT SHOPPING.

I have been reading lots of success stories with folks raising their score in a short amount of time. Please give me all your sound advice as Iam starting today. My goal is 825 or higher in 24 months or less.

Thanks,

Jamie

Welcome aboard. Be sure to check into the re-building thread with questions and to see the advice already available. Also check out the BK to 700 thread.

Re: January 2016 -=- Check In

Just wanted to check in - my goal from last year was to have 760+ mortgage scores and (hooray!) as of this week I just hit 761 as my middle score! My husband (formerly of the 500's FICO club as of two years ago) hit 760+ two months before me so we are now both in good shape after two years of hard work. For 2016 we will start slowing down (not stopping!) our agressive debt payoff and shift our top priority to building up our savings for a house down payment, closing costs, etc. We have to move in August and since we know we are staying put for at least 15 years it would be SO NICE to *buy* a house and move ONCE instead of renting and then having to move again!

Re: January 2016 -=- Check In

Just wanted to check in - my goal from last year was to have 760+ mortgage scores and (hooray!) as of this week I just hit 761 as my middle score! My husband (formerly of the 500's FICO club as of two years ago) hit 760+ two months before me so we are now both in good shape after two years of hard work. For 2016 we will start slowing down (not stopping!) our agressive debt payoff and shift our top priority to building up our savings for a house down payment, closing costs, etc. We have to move in August and since we know we are staying put for at least 15 years it would be SO NICE to *buy* a house and move ONCE instead of renting and then having to move again!

Congrats on the excellent work and good luck in finding your dream home 😄😄

Move the mouse over the cards for detailed view! .. Last HP 05 JAN 2016 ..

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